SPANBO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
SPANBO
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.0m
2024 · €2.4m+€571,126
Equity
€5.4m
2024 · €1.9m+€3.5m
Cash
€2.7m
2024 · €3.6m-€908,783
Balance sheet total
€15.7m
2024 · €13.6m+€2.1m
Largest movements
Assets
- Current investments +€2.0m
up €2.0m (+33.3%), from €6.0m to €8.0m
- Receivables within one year +€1.2m
up €1.2m (+54.5%), from €2.2m to €3.3m
of which Trade receivables: +€1.1m
- Cash -€908,783
down €908,783 (-25.3%), from €3.6m to €2.7m
mainly Other debts (-€2.1m) and Current investments (-€2.0m)
- Tangible fixed assets -€256,884
down €256,884 (-17.2%), from €1.5m to €1.2m
of which Leasing and similar rights: -€324,408
Equity and liabilities
- Reserves +€3.0m
up €3.0m (+280.1%), from €1.1m to €4.1m
- Other debts -€2.1m
down €2.1m (-100.0%), from €2.1m to €0
- Trade debts +€1.3m
up €1.3m (+16.9%), from €7.5m to €8.8m
- Contributions +€500,000
up €500,000 (+58.8%), from €850,000 to €1.4m
- Debts after one year -€310,196
down €310,196 (-29.1%), from €1.1m to €754,333
of which Financial debts: -€333,633
Income statement
- Goods and materials -€714,010
down €714,010 (-5.2%), from €13.8m to €13.1m
of which Purchases: -€737,993
- Turnover +€267,009
up €267,009 (+1.3%), from €20.0m to €20.3m
- Staff costs +€216,835
up €216,835 (+13.3%), from €1.6m to €1.8m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€2.4m
Turnover
+€267,009
Other operating income
+€15,604
Goods and materials
+€714,010
Services and other goods
-€47,565
Staff costs
-€216,835
Depreciation
-€7,980
Other operating charges
-€2,307
Other operating items
+€137,758
Financial income
-€57,354
Financial charges
-€35,320
Taxes
-€195,894
Result 2025
€3.0m
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.0m
Investment
-€2.1m
Financing
+€196,804
Cash 2024
€3.6m
From operations (derived)
+€1.0m
Net result for the year
+€3.0m
Depreciation
+€417,945
Stocks and contracts
-€123,626
Receivables within one year
-€1.2m
Deferred charges and accrued income
-€14,111
Trade debts
+€1.3m
Tax, wage and social debts
-€236,463
Advances received
+€16,900
Other debts
-€2.1m
Accrued charges and deferred income
+€10,346
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€123,814
Current investments
-€2.0m
Financing
+€196,804
Debts after one year
-€310,196
Current portion of long-term debt
+€6,999
Contributions, distributions and other
+€500,000
Cash 2025
€2.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,612,388 | €15,728,389 | +€2.1m | +15.5% |
| Fixed assets | 21/28 | €1,593,070 | €1,298,939 | -€294,132 | -18.5% |
| Intangible fixed assets | 21 | €22,507 | €0 | -€22,507 | -100.0% |
| Tangible fixed assets | 22/27 | €1,489,484 | €1,232,600 | -€256,884 | -17.2% |
| Plant, machinery and equipment | 23 | €52,265 | €83,629 | +€31,364 | +60.0% |
| Furniture and vehicles | 24 | €79,268 | €115,427 | +€36,159 | +45.6% |
| Leasing and similar rights | 25 | €1,357,952 | €1,033,544 | -€324,408 | -23.9% |
| Financial fixed assets | 28 | €81,080 | €66,339 | -€14,741 | -18.2% |
| Other financial fixed assets | 284/8 | €81,080 | €66,339 | -€14,741 | -18.2% |
| Amounts receivable and cash guarantees | 285/8 | €81,080 | €66,339 | -€14,741 | -18.2% |
| Current assets | 29/58 | €12,019,317 | €14,429,450 | +€2.4m | +20.1% |
| Stocks and contracts in progress | 3 | €221,293 | €344,919 | +€123,626 | +55.9% |
| Stocks | 30/36 | €45,551 | €45,649 | +€98 | +0.2% |
| Raw materials and consumables | 30/31 | €45,551 | €45,649 | +€98 | +0.2% |
| Contracts in progress | 37 | €175,742 | €299,270 | +€123,528 | +70.3% |
| Amounts receivable within one year | 40/41 | €2,165,483 | €3,346,661 | +€1.2m | +54.5% |
| Trade receivables | 40 | €1,672,742 | €2,784,519 | +€1.1m | +66.5% |
| Other amounts receivable | 41 | €492,740 | €562,141 | +€69,401 | +14.1% |
| Current investments | 50/53 | €6,000,000 | €8,000,000 | +€2.0m | +33.3% |
| Other investments | 51/53 | €6,000,000 | €8,000,000 | +€2.0m | +33.3% |
| Cash at bank and in hand | 54/58 | €3,594,100 | €2,685,317 | -€908,783 | -25.3% |
| Deferred charges and accrued income | 490/1 | €38,442 | €52,553 | +€14,111 | +36.7% |
| Total equity and liabilities | 10/49 | €13,612,388 | €15,728,389 | +€2.1m | +15.5% |
| Equity | 10/15 | €1,920,171 | €5,417,408 | +€3.5m | +182.1% |
| Contributions | 10/11 | €850,000 | €1,350,000 | +€500,000 | +58.8% |
| Reserves | 13 | €1,070,171 | €4,067,408 | +€3.0m | +280.1% |
| Distributable reserves | 133 | €1,070,171 | €4,067,408 | +€3.0m | +280.1% |
| Amounts payable | 17/49 | €11,692,217 | €10,310,981 | -€1.4m | -11.8% |
| Amounts payable after more than one year | 17 | €1,064,528 | €754,333 | -€310,196 | -29.1% |
| Financial debts | 170/4 | €1,064,528 | €730,895 | -€333,633 | -31.3% |
| Leasing and similar obligations | 172 | €1,048,037 | €724,143 | -€323,894 | -30.9% |
| Credit institutions | 173 | €16,491 | €6,753 | -€9,739 | -59.1% |
| Other amounts payable | 178/9 | - | €23,438 | +€23,438 | |
| Amounts payable within one year | 42/48 | €10,627,688 | €9,546,303 | -€1.1m | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €326,634 | €333,633 | +€6,999 | +2.1% |
| Trade debts | 44 | €7,494,649 | €8,760,214 | +€1.3m | +16.9% |
| Suppliers | 440/4 | €7,494,649 | €8,760,214 | +€1.3m | +16.9% |
| Advances received on contracts in progress | 46 | €106,481 | €123,381 | +€16,900 | +15.9% |
| Taxes, remuneration and social security | 45 | €565,537 | €329,075 | -€236,463 | -41.8% |
| Taxes | 450/3 | €417,449 | €189,052 | -€228,397 | -54.7% |
| Remuneration and social security | 454/9 | €148,088 | €140,022 | -€8,066 | -5.4% |
| Other amounts payable | 47/48 | €2,134,388 | €0 | -€2.1m | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €10,346 | +€10,346 | |
| Operating income | 70/76A | €20,253,873 | €20,674,377 | +€420,504 | +2.1% |
| Turnover | 70 | €20,016,817 | €20,283,826 | +€267,009 | +1.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €98,949 | €236,061 | +€137,112 | +138.6% |
| Other operating income | 74 | €136,875 | €152,479 | +€15,604 | +11.4% |
| Non-recurring operating income | 76A | €1,232 | €2,011 | +€779 | +63.2% |
| Operating charges | 60/66A | €17,132,481 | €16,693,291 | -€439,190 | -2.6% |
| Goods for resale, raw materials and consumables | 60 | €13,795,439 | €13,081,429 | -€714,010 | -5.2% |
| Purchases | 600/8 | €13,819,520 | €13,081,527 | -€737,993 | -5.3% |
| Change in stocks: decrease (increase) | 609 | -€24,081 | -€98 | +€23,983 | +99.6% |
| Services and other goods | 61 | €1,299,051 | €1,346,616 | +€47,565 | +3.7% |
| Remuneration, social security and pensions | 62 | €1,624,682 | €1,841,517 | +€216,835 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €409,965 | €417,945 | +€7,980 | +1.9% |
| Other operating charges | 640/8 | €2,340 | €4,647 | +€2,307 | +98.6% |
| Non-recurring operating charges | 66A | €1,004 | €1,137 | +€133 | +13.3% |
| Operating profit (loss) | 9901 | €3,121,392 | €3,981,086 | +€859,694 | +27.5% |
| Financial income | 75/76B | €181,610 | €124,256 | -€57,354 | -31.6% |
| Recurring financial income | 75 | €181,610 | €124,256 | -€57,354 | -31.6% |
| Income from current assets | 751 | €181,610 | €124,255 | -€57,355 | -31.6% |
| Other financial income | 752/9 | €0 | €1 | +€1 | +1900.0% |
| Financial charges | 65/66B | €51,474 | €86,794 | +€35,320 | +68.6% |
| Recurring financial charges | 65 | €51,474 | €86,794 | +€35,320 | +68.6% |
| Debt charges | 650 | €48,650 | €83,178 | +€34,528 | +71.0% |
| Other financial charges | 652/9 | €2,823 | €3,615 | +€792 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | €3,251,528 | €4,018,548 | +€767,020 | +23.6% |
| Income taxes | 67/77 | €825,418 | €1,021,311 | +€195,894 | +23.7% |
| Taxes | 670/3 | €825,454 | €1,021,311 | +€195,858 | +23.7% |
| Tax adjustments and reversals of tax provisions | 77 | €36 | €0 | -€36 | -100.0% |
| Profit (loss) for the period | 9904 | €2,426,111 | €2,997,237 | +€571,126 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,426,111 | €2,997,237 | +€571,126 | +23.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.